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By R Garzon

For resources projects with healthy net present value (NPV) and low cash flow volatility, conventional discounted cash flow (DCF) analysis will continue to provide the dominant investment decision-making criteria. However, DCF analysis can be biased because it often applies a single risk-adjusted discount rate (RADR) to compare the value of projects with different risk characteristics. Many of the difficulties with DCF modelling arise from analystsÆ inability to determine appropriate risk discounts and to estimate expected spot prices inputs for the commodities produced over the life of the project. Modern asset pricing (MAP) is a very valuable complement to DCF analysis in addressing some of these issues. Most papers dealing with MAP, however, while academically rigorous, tend not to be explicit in terms of practical application of this methodology in routine project evaluation. This paper has the objective of reviewing the MAP methodology and of demystifying its complexity, by providing a simple but realistic step-by-step evaluation of a mining project, comparing its DCF and MAP NPV values. The paper concludes that MAP provides a minimum, risk-adjusted æfloorÆ value, thus representing a valuable complement to any DCF valuation.

Jan 1, 2007

By Irving R. C

THE objective of the iron smelter is naturally the production of high quality iron at the lowest practicable cost. To enable this, large tonnages are put through the blast furnace, and, at the same time, the quality of the iron must be under definite control.The modern blast furnace enables these objectives to be attained. The description whieh follows sets out the general details of construction of such furnaces, and the operation at thc Broken Hill Proprietary Company's blast furnaces at Newcastle, New South Wales.The occurence of iron in many forms is so well known as to need no description. Modern civilisation may be said to be built on a foundation of iron, and, today, the production of iron and steel has beeome one of the world's industries.A short historical introduction will serve to show the evolution of the processes and apparatus since iron production assumed importance.There is no definite date fixed as to when iron was first made, or by what means it was first discovered. Perhaps prehistoric man threw iron bearing stone on to his fire, and these became reduced, Ieaving a soft metal behind, or more probably the first iron was of meteoric origin.There is evidence, however, to prove that it has been known for a period of 6000 years. Iron has been found in the Pyramids and its use was known to the early Eqyptians and later to the Hebrews, Assyrians, Greeks and Chinese. Following the Greeks, the Romans excelled in its extraction and uses in the manufacture of their instruments of war, and to this fact can largely be attributed the success of their many wars of conquest. As the Romans overran the rest of the then known world they carried the art with...

Jan 1, 1930

By Benedicto Hadad Cintra

In an inflationary environment the need for reduced cost is a daily concern of all industries. The Du Pont do Brasil "Expanded Pattern" method has proven to be an extremely effective means of reducing costs in mining, quarrying and construction operations. Over the past years much emphasis was placed on rectangular drilling patterns where the burdens are less than the spacing. The Expanded Pattern method combining rectangular and staggered patterns, was implemented in 1971 in Brazil after extensive trials in close collaboration with numerous explosives users and Du Pont do Brasil Technical Services Engineers. The best multiple row spacing-to-burden ratio (S/B) was demonstrated to be in the 2 to 5 range and the effective spacing to burden ratio (Se/Be) was found to vary from 5 to 11. These ratios are for the interior of the blast pattern and do not hold true along the front row of holes. Geological rock properties, hole diameter and inclination, explosives energy and loading density, explosives characteristics, blast pattern geometry, bench height and delay patterns along with type and size of digging, hauling and crushing equipment must all be evaluated for each and every operation. The integration of these interrelated parameters, together with sound blasting practices are the basis for the Expanded Pattern method. Color slides and documented case histories will be presented.

Jan 1, 1985

By A Jurg, F Leclercq

The total drill and blast concept is widely known in the mining industry. On the contrary, the quarry industry rarely adopts such working methods. Based on the experience of the CBS quarry in the North of France, this paper shows how up-to-date blasting technology and simple control methods can significantly improve the overall Mine to Mill efficiency of a quarry. The CBS quarry, in partnership with the EPC group and Nitro- Bickford Company, adopted a new working process three years ago aimed at increasing blast performance and related productivity of the downstream process (loading, hauling and crushing). The pattern geometry of each blast is controlled and explosive charging is carried out following the æconstant specific energyÆ CSE concept. This method provides a homogeneous fragmentation distribution and reduces vibration peak-particle-velocities. The impact on downstream productivity is controlled by means of a simple information management system, which collects and measures key parameters of the production process such as; hauling cycles, crusher throughput, secondary breaking and vibration peak particle velocity. This information system has clearly proved over time that consistent blast quality could be achieved, leading to a 30 per cent improvement in quarry productivity. Improved energy control of blasting through optimisation with electronic detonators, allowed a significant reduction in vibration impact on the environment. Improvement in blasting security, reduction in the environmental impact and productivity enhancement are major benefits that quarries can obtain from these CSE optimisation blasting methods.

Jan 1, 2007

Although forty-seven years have passed since the by-product coke oven made its successful commercial appearance, it is only during the past fifteen or twenty years that this system of coal carbonisation has advanced rapidly to its present position ofabsolute supremacy.Early designs of by-product ovens proved more or less faulty, and the coke produced was so inferior to coke made in beehive ovens that there was a natural hesitancy on the part of coke producers to invest large sums of money in installations of by-productovens of doubtful utility-more especially in view of the fact that beehive ovens could be erected cheaply and operated by non technical labour for the production of high-grade coke under the most variable conditions of trade.Surely and steadily designers brought forward by-product ovens of improved type, coupled with more efficient apparatus for the recovery of by-products, but still the industry lagged, due almost entirely to the insistence on the part of coke users that the qualityof ordinary beehive coke was vastly superior for metallurgical operations to the best coke produced from by-product ovens. So deep rooted was this prejudice that only the passage of time could eradicate it. That it has successfully done so is strikingly illustratedin the following statistics:

Jan 1, 1928

By Timothy P. Smirnoff

Sustaining the region?s mobility needs, achieving projected economic growth, and maintain Midtown Manhattan as a center of regional, national and global importance has led to continued investment in commuter rail and transit infrastructure in New York City and resulted in design and construction of large underground caverns. The current plans for stations in Manhattan include New York Penn Station Expansion (NYPSE) caverns for Trans Hudson Express (THE) Tunnel Project for New Jersey Transit (NJ Transit) and the Port Authority of New York and New Jersey (PANYNJ), Metropolitan Transportation Authority Capital Construction Long Island Railroad (MTACC/LIRR) twin caverns for East Side Access (ESA) Project, and station caverns of the No. 7 Line Subway Extension Project and Second Avenue Subway Project for Metropolitan Transportation Authority Capital Construction/New York City Transit (MTACC/NYCT). This paper provides a general overview of these large caverns now in design or construction in Manhattan, the area?s geologic setting, the geotechnical factors considered and approaches commonly applied for cavern design.

By R Harding, T Hunt

For the past 120 years, Portland cement manufacture has been undertaken on the shores of the Whangarei Harbour in northern New Zealand. Through a serendipitous conjunction of geo-chemistry, the argillaceous marl found on Limestone Island in the harbour and Tikorangi Hill provides a perfect mix of the various elements required for strong and durable cement. Golden Bay Cement, and its predecessors, have been the guardians and managers of the use of these minerals. As the demands of the concrete industry have increased, so have the needs of the manufacturing process. Careful mapping of the resource at both Portland and Wilsonville Quarries has been undertaken. This has allowed the Company to change the Quarry operation from a purely volume basis to one of selection and blending of constituent minerals. Within the manufacturing process, change has also been introduced. Analytical techniques, using x-ray fluorescence spectrometry, microscopy and the application of modem data collation, has allowed fine tuning of the process. The Company now produces an increasing diverse range of products for both the domestic New Zealand market and exports to various South Pacific countries. This paper discusses the processing of limestone and æcement rockÆ into cement clinker, an intermediate synthetic mineral ground into cement. It examines control and blending regimes, and some methods used in determining process efficiency. An important technique ærediscoveredÆ has been the application of microscopy to clinker.  Examination of the major silicate minerals enables interpretation of the kiln processing and feedback to process operators. It also enables a prediction of indicated performance when ground into cement. Examples this paper give an insight into the use of minerals from Northland in some of the more important construction projects in modem New Zealand.

Jan 1, 1999

By Gary F. Meenan

The industrial practice of froth flotation for upgrading the quality of fine coal is a relatively complex, expensive, and inefficient process when compared to the coarse- and intermediate-size coal cleaning circuits. The differences in cost and process efficiency can be attributed mainly to the lower equipment throughput, the added cost of flotation reagents, and the fact that flotation is typically a manually operated process susceptible to fluctuating feed characteristics that influence the overall operating efficiency. The emphasis in recent years has been on improving the flotation process efficiency and lowering the cost per clean ton. This has been achieved by larger flotation cell designs, implementation of flotation reagent evaluation programs, and improved process instrumentation and control. These developments are reviewed along with other current coal flotation practices.

Jan 1, 1999

ALTHOUGH it has been a matter of about one hundred years since the idea of the internal-combustion engine entered the mind of the inventor, the practical application of its use was not attained till 1860, when Lenoir produced an engine similar to the ordinary highpressure steam engine, with the valves arranged to admit the explosive mixture and the discharge of the exhaust gases. In this case no attempt was made to compress the gas before ignition, as it was then considered that the explosion under these conditions had a detrimental effect, inasmuch as it would act as a sudden blow to the working parts. Indeed, he went so far as to inject steam and water sprays to reduce the explosion.Under these conditions the consumption of gas was exceedingly high-about 106 cub. ft. of coal gas per b.h.p. per hour but the mechanical effect showed that the engine ran in every respect as smoothly and quietly as in best steam-engine practice.The extravagant consumption of this engine was clearly pointed out at the time by Gustav Schmidt in a paper before the German Society of Engineers, wherein he states :-" The results would be far more favourable if compression pumps, worked from the engine, compressed the cold air and cold gas to three atmospheres before entrance into the cylinder. By this means a greater expansion and transformation of heat is possible."

Jan 1, 1912

By L G. B Wadley

The Australian gold industry has made large steps forward in the last few years. This progress has been driven by improvements in mining and processing technology, the high price of gold and by a favourable legislative, political and taxation environment. This paper concentrates on improvements in gold project development, process engineering and technology as seen by BHP Engineering, Perth, Australia. The paper describes technical aspects of successful gold project development including metallurgical test work, feasibility studies, choice of process flow sheet (gravity, heap leach, carbon in pulp (CIP), carbon in leach (CIL) or other routes). It sets out our views on plant design, plant construction, procurement and project management. A case study for a small plant recently completed in the Philippines is presented as a solution to the problems often encountered in treating quartz vein gold deposits.

Jan 1, 1990

By C. A. Heiland

For a long time it has been known that it is possible to deduce conclusions about the physical constitution of the interior of the earth from the records of natural earthquakes obtained by stationary seismographs. In view of this fact it is surprising how late, relatively speaking, geologic prospecting by seismic methods has been taken up, although the first suggestion was made 40 years ago- that travel-time curves of artificial explosions might be used for the study of the change of the velocity of seismic waves as depth. Further suggestions of practical applications of artificial explosions for geologic purposes were made by Belar,2 by von dem Borne,3 by Benndorf4 and by Galitzin,5 but it was not until 1919 that Mintrop obtained. a patent on the seismic prospecting method which he has applied commercially on a large scale ever since. Dr. Mintrop came to this country with his method at about 1923. Since that time, several. American oil companies have developed seismographs of the mechanical type for the vertical component similar to that of Mintrop's (Humble Oil Co., Dr. Ricker). Other consulting geophysical companies designed other types of seismic devices, the simplest of them for the recording of the first impulse being the geophone (McCollum Geophone Co.). The galvanometric recording method as first proposed by Galitzin is being used (Geophysical Research Corpn.?) and use is being made even of the piezoelectric properties of crystals for portable seismographs (F. Rieber).. There is such an enormous variety of all kinds of portable seismographs, vibrographs, accelerographs, etc., that it is difficult to decide just what kind is preferable. Unfortunately, nothing has been published as yet about American designs of portable seismographs, except the Wood Anderson torsion-seismometer. After Mintrop's design of portable seismographs, other constructions were made.

Jan 1, 1928

By Edwin R. (Original by) Phelps

Surface mining refers to the process of removing the material (over- burden) overlying a coal seam and exposing the coal so that it can be loaded out and conveyed by trucks or other methods to the preparation plant or other facility. Surface mining has not always been important in the coal industry. In the early 1900s, almost all of the coal mined in the United States was mined by underground methods. In 1900, about 192 Mt (212 million st) of bituminous coal were mined and less than 1% was mined by surface methods. The development and use of larger equipment has allowed surface mining to gain prominence throughout the years. Table 1 shows the total production of coal by mining method in the United States for ten-year periods since 1920 and indicates the growth of surface-mined coal production. Surface mining will undoubtedly continue to account for a large percentage of the coal production in the US for many years because: 1) The capacity of surface mining excavators has continued to increase. Today, mining companies are using shovels (see Fig. 1) which are able to move up to 137.6 m3 (180 cu yd) in each bite and draglines (see Fig. 2) which move up to 168.2 m3 (220 cu yd) in each bucketful. 2) Increasing tonnage from the thick western coal seams is being produced by surface mining methods. 3) Surface mining has normally had lower costs and a better safety record than underground mining; 4) Surface mining normally recovers a- much higher percentage of the coal reserve than can be recovered by underground mining. 5) Some coal measures can best be extracted by surface mining [ ] methods because of geologic reasons such as the nature of the roof or bottom, thickness of the seam, multiple bedding, etc.

Jan 1, 1981

By D Kent

"There has been a revolution occurring in underground mining over the last several years, where big headline items such as the Internet of Things (IoT), optimisation, managing data, data mining etc – the list of current catchphrases, goes on. In the end these are nothing new; but the ‘things’ (sensors) are becoming smaller, cheaper and easier to deploy, and the analysis much more powerful as computer processing speeds increase. However, to take advantage of the myriad of devices out there and gain the processing power to analyse and use the data, a reliable ‘conduit’ is needed for that information to be delivered where it can actually be used. That is, a high quality data network.Modern mining is like any other industry in the information age: the access to reliable data is the first, critical step in improving productivity (Stevens, 2015). The convergence of communications onto an IP (Internet Protocol) backbone has been the driving force in enabling the productivity gains in general industry over the last two decades.This paper overviews how this technology has developed as an enabler in accessing productivity and safety benefits, and how it has used access to large amounts of data to manage mining processes underground. Reams of data are useless, but with the reliable receipt, analysis, processing and feedback system in place to use that data, benefits can be realised.Automated mining systems are increasingly being seen as a key requirement for a productive mining operation, and the importance of an integrated communication network infrastructure to support such systems is growing. Another emerging driver is the much talked about IoT and data analytics, both dependant on reliable, accurate, high volume data.The author will outline how communication infrastructure is fundamental to the operation of such systems, and explain why the resultant communication networks require much more than just increased bandwidth (data capacity) to properly support the automation and other data hungry systems within the overall mine operation.Mining operations embarking down this road are discovering that the required network must be based on a true enterprise level architecture to, not only enable the mine’s current plans for remote or automated mining, but also to provide a scalable and integrated platform for future developments. The emerging issues for the communication network to truly support automation systems include: increased complexities of operating and maintaining multiple networks integration issues with disparate systems problems with reporting, particularly as demands for corporate reporting and compatibility with enterprise systems become the norm ongoing management challenges, which will only increase with the proliferation of new technologies.How certain mining operations lay the necessary foundations to meet their current requirements, while supporting their visions for a more automated and proactively managed mine, will be explored.CITATION:Kent, D, 2017. Modern mining – why bandwidth matters, in Proceedings 13th AusIMM Underground Operators’ Conference 2017, pp 123–128 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Oct 16, 2017

This paper deals with innovative techniques that have enabled personal computers to be used on the mine site to define, develop and manage an ore body resource, while being aware of the consequences to the environment. The same set of personal computer tools that are used for resource estimation, once the province of expensive workstations, can also be used by geologists, mining engineers, surveyors and environmentalists, in managing the whole mining process, including production, grade control, monthly reconciliation and stockpile management through to tailings the management, mine rehabilitation and the due diligence process of mine closure.

Jan 1, 1996

By G. G. Goble

Significant progress has been made in the past decade in determining the load bearing capacity of pile foundations. Developments in the means of prediction of pile capacity as limited by soil strength have been substantial, particularly in the use of dynamic methods. The use of currently available equipment, analytical procedures, and practices in the field, will often produce material economies on a job by allowing increased loads with proven factors of safety. This approach justifies the minimum number of piles required for a safe foundation in a wide range of job sizes and soil conditions. To avoid exposing the reader to excessive detail in the body of this paper, technical topics have been covered more thoroughly in several appendices. I. Wave Equation Analysis of Piles Appendix A II. Dynamic Monitoring and the Pile Driving Analyzer Appendix B III. Case Method Capacity Calculation Appendix C IV. Case Pile Wave Analysis Program Appendix D 1 Preliminary Analysis In designing driven pile foundations, there must be a close relationship between design, construction control procedures, driving practices, and the size of the job. Small commercial buildings or residences involving loads that are only a fraction of the pile capacities do not justify the expense of detailed design processes or elaborate construction controls. Nevertheless, some preliminary analysis of the job requirements and a limited subsurface investigation must be made to understand existing conditions and the possible foundation solutions. In other words, it is necessary to determine that driven piling is the best overall choice of foundation.

Jan 1, 1988

MR. W. E. WAINWRIGHT occupied the chair, and in introducing the lecturer said, on account of the absence of the vice-president, it fell to his lot to introduce the lecturer. Mr. Tennberg, he said, was visiting Australia, and those present might wonder who he was.He understood that the lecturer w~s a reputable practising geophysicist, associated with a reputable company! It was rather desirable perhaps to say that the Institute had made some inquiries with regard to his status. Geophysics was a comparatively newscience, and had suffered several hard knocks in Australia and elsewhere. Most of those knocks had been the result of undue optimism of a number of people who did not understand what they were talking about. It had been claimed that geophysics was a...

Jan 1, 1930

By Lawrence K. Nordell, Vinit Sethi

Published standards and specifications do not adequately cover engineered class pulleys for modern high strength steel cord belt conveyors. This paper discusses the Conveyor Dynamics, Inc. (CDI) design criteria and stress analysis techniques emphasizing the finite element method (FEM), fatigue failure criteria, design limits and manufacturing requirements to ensure successful and safe pulley installations.

Jan 1, 1993

By Doris Stüben, Geoffrey P. Glasby, Akira Usui, Jörg-Detlef Eckhardt, Bruce W. Mountain, Zsolt Berner

"Abstract - Twenty-seven marine Mn and Fe deposits chosen for their diverse origins have been analyzed for five platinum-group elements (PGE). The PGE display their highest concentrations in hydrogenous Mn crusts and nodules, lesser concentrations in diagenetic nodules and two to three orders of magnitude lower concentrations in hydrothermal Mn and Fe crusts. This difference of behavior reflects the well-known fractionation of Mn and Fe from the other transition elements, rare earth elements (REE) and PGE in hydrothermal Mn and Fe crusts. Pt, Ru, Rh, and Ir show a close geochemical coherence in these deposits and are differentiated from Pd which shows a negative anomaly with respect to the other PGE in hydrogenous and diagenetic Mn deposits. Pd is less depleted than the other PGE and the Pd anomaly much less pronounced in the hydrothermal Mn and Fe crusts relative to the hydrogenous and diagenetic Mn deposits.Stability field diagrams show no evidence for the oxidation of Pt to the tetravalent state in seawater as suggested by some authors. Rather, Pt appears to be present in seawater as Pt(OH)2 0. Adsorption of Pt(OH)2 0 onto the surface of Mn and Fe oxyhydroxide minerals may explain the enrichment of Pt in marine Mn deposits. However, Pt metal is the thermodynamically stable solid phase of Pt under seawater conditions and reduction of Pt(OH)2 0 to Pt metal, particularly in the vicinity of the oxygen minimum zone, is possible, although the high Ce/La ratios of the Co-rich Mn crusts do not support this hypothesis. Pt, Ru, Rh, and Ir display their maximum concentrations in the Corich Mn crusts. This may reflect, among other things, the low growth rates of these deposits. The stability field diagram of Pd shows that Pd is undersaturated in seawater and occurs in seawater dominantly as PdCl4 2- and anionic mixed-hydroxide-chloride complexes. This would explain the anomalous position of Pd among the PGE with respect to its uptake into marine Mn deposits. A study of inter-element associations indicates that the incorporation of the PGE from meteoritic dust plays only a minor role in the uptake of these elements into marine Mn deposits. The PGE remain the most poorly studied group of elements in marine Mn deposits. The data presented here emphasize the need for the establishment of a more comprehensive database of the PGE in marine Mn deposits in order to understand more fully their uptake into marine Mn deposits and their pathways through the oceans."

Jan 1, 1999

By James R. Hein, Jane Reid, Robert W. Embley, Se-Won Chang, Randolph A. Koski

"Abstract - This is the first reported occurrence of an active hydrothermal field in an oceanic fracture zone setting. The hydrothermal field occurs in a pull-apart basin within the Blanco Fracture Zone (BFZ), which has four distinct mineral deposit types: (1) barite mounds and chimneys, (2) barite stockwork breccia, (3) silica-barite beds, and (4) silica, barite, and Fe-Mn oxyhydroxide in sediments. All deposit types contain minor amounts of sulfides. In barite stockwork, silica-barite beds, and mineralized sediment, Ba, Pb, Ag, S, Au, Zn, Cu, Hg, Tl, As, Mo, Sb, U, Cd, and Cu are enriched relative to unmineralized rocks and sediments of the BFZ. Fe and Mn are not enriched in the barite stockwork or silica-barite beds, but along with P, Co, and Mg are enriched in the mineralized sediments. Silver contents in deposits of the hydrothermal field range up to 86 ppm, gold to 0.7 ppm, zinc to 3.2%, copper to 0.8%, and barium to 22%.Mineralization occurred by diffuse, low to intermediate temperature (mostly <250°C) discharge of hydrothermal fluids through pillow lavas and ponds of mixed volcaniclastic and biosiliceous sediments. Bacterial mats were mineralized by silica, barite, and minor Fe hydroxides, or less commonly, by Mn oxyhydroxides. Pervasive mineralization of bacterial mats resulted in formation of silica- barite beds. Silica precipitated from hydrothermal fluids by conductive cooling and mixing with seawater. Sulfate, U, and rare earth elements (REEs) in barite were derived from seawater, whereas the REE content of hydrothermal silica deposits and mineralized sediments is associated with the aluminosilicate detrital fraction. Fe-, Zn-, Cu-, Pb-, and Hg-sulfide minerals, Ba in barite, and Eu in all mineralized deposits were derived from hydrothermal fluids. Manganese oxides and associated elements (Co, Sb, Mo, W, Cl, and Cu) and Fe oxides and associated elements (Be, B, P, and Mo) precipitated as the result of mixing of hydrothermal fluids with seawater."

Jan 1, 1999

By A. I. Gorshkov, Y. A. Bogdanov, O. Y. Bogdanova

Abstract - Detailed crystal-chemical study of iron and manganese oxides and some other minerals from low-temperature hydrothermal deposits in a newly discovered inactive mound in the TAG hydrothermal field were used to determine the precipitation sequence of mineral phases during lowtemperature processes and their post-sedimentary transformations. Particles of primary sedimentary X-ray amorphous proto-ferrihydrite with high silica content were replaced in situ by nontronite, ferrihydrite, or goethite during alteration. Ferrihydrite is the only proto-hematite phase. The transformation of the iron minerals, related to change in the physicochemical environment, is an important characteristic of low-temperature hydrothermal processes. The occurrence of hydrogenetic Fe vernadite and Mn feroxyhyte in the uppermost part of low-temperature deposits and bottom sediments near the base of the mound is evidence for cessation of low-temperature hydrothermal processes. Among the investigated mineral phases, goethite, nontronite, and hematite are stable in reduced sediments only.

Jan 1, 1999